Budget Windfall
SAVINGS AT SINGAPORE NEARLY MILLION IN HAND By Cable.—Press Association. — Copyright. Reed. 10.30 a.m. LONDON, Tuesday. The Chancellor of the Exchequer, Mr. Winston Churchill, obtains a Budget windfall of £957,000 in the unexpended balance of last year's Navy grant, of which the Singapore Base absorbed £73,000 less than provided. The total outlay on the base on March 21, 1927, was £340,000, out of a total estimate of £414,000. The Auditor-General drew attention to the fact that the arrangement to keep the armament plants in commission during the slump in Admiralty orders, by an addition to the normal prices covering dead charges on the plant, was not fully utilised. It is estimated that an amount of £90,000 a year is reducible, according to the amount of additional Admiralty orders or private work.
It is also revealed that the Admiralty, during the coal strike, released to private firms huge quantities of oil fuel which has been replaced in kind, plus interest at 1 per cent.—A. and N.Z.-Sun.
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Bibliographic details
Sun (Auckland), Volume I, Issue 297, 7 March 1928, Page 1
Word Count
167Budget Windfall Sun (Auckland), Volume I, Issue 297, 7 March 1928, Page 1
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